Careers platform Striver and wealth management firm BT have launched the Striver Career Pathways Program, an online-based learning and development program that addresses the adviser shortage in Australia and seeks to improve access to quality advice.
The course is aimed towards career changers, advice support staff looking to upskill and university graduates. In conjunction with Striver, BT’s mission is to introduce 5,000 new advisers to the profession over the next decade.
To help new entrants transition into the industry, it gives participants broad experience where they may find future employment opportunities within an advice firm’s support team, such as a client services manager or paraplanner.
The first program intake will see a group of BT contact centre and operations staff members undertake approved online education before the program is opened up to the wider industry.
“We’re looking to invest in the next generation of advisers and to advocate for a strong advice industry,” BT chief executive Matthew Rady said.
“We’ve worked with Striver to design the Career Pathways Program to support those aspiring to join the advice profession with the right skills and development opportunities.”
With more than three-quarters of advisers struggling with staff recruitment, according to BT research, the program also seeks to encourage those already working in financial services to remain within the industry.
Rady continued: “We know anecdotally that each year, the financial services industry loses staff with great skills to other industries. This program is about providing those people with a career pathway to take the first step toward a career in financial advice.”
Alisdair Barr, CEO and founder of Striver, acknowledged the positive impact this initiative will have on Australia’s advice sector: “Together, we have embraced this challenge by enhancing the Striver technology platform to create a more structured approach to supporting the advice industry.”
Barr previously advocated for the profession to embrace career changers and mature students as a way to boost adviser numbers.
“If you ask any adviser how they got into it, they say they ‘fell into it’ and the problem is by not being open to that, then we miss out on that talent. We should lean into it and embrace these people who have come from other fields,” the Striver CEO said last year.
Earlier in March this year, Striver also announced a partnership with Iress to encourage new graduates and career changers into the advice industry.
